The inductor market is projected to grow from US$6.745 billion in 2025 to US$8.742 billion in 2030 at a CAGR of 5.32%.
An inductor is a two-terminal electric component that stores energy in the magnetic field when electric current flows through it. It is efficiently used in electronic devices such as smartphones as during the power-on process of certain smartphones, inductors’ main function is to keep up with the current stable and also protect the safety of the smartphone or any electronic device.
Furthermore, inductors offer multiple benefits, like it helps to change electrical energy to magnetic energy, and regulating the flow of DC currents, restricting the AC current. The bolstering growth in major end-users is anticipated to propel the market expansion on global scale.
In the automotive sector, the inductors play an important role, as these are used to regulate the voltages of the circuits and maintain a stable output. The use of inductors also improves the reliability of the vehicle, along with increasing the performance capability. With the increasing demand for the new automotive, the market size of the global inductor market is also expected to increase.
According to the International Organization of Motor Vehicle Manufacturers (OICA), the total number of vehicles sold in 2023 was about 92.724 million, a significant increase from 82.871 million in 2022. About 50.750 million units of passenger cars were sold in 2022, which increased to 57.013 million in 2023.
Moreover, the same source specified that the global automotive production also experienced a positive growth in 2023 with the production volume reaching up to 93.54 million units which signified a 10.27% growth over 2022’s production figure.
Inductors offer efficient power management thereby optimizing energy outflow, however, in order to achieve all this the architecture of inductors must be effective and the material used must have high insulation properties, especially in case of high-powered inductors whose magnetic coil gets susceptible to heat. The level of complexities in designing a performance-oriented inductor is very high given the volatility of type of raw materials used can pose a challenge for the market growth.
By end-user industry, the automotive sector is poised for a significant growth and will account for a considerable market share fueled by the high-applicability of inductors in automotive power management, current regulation and sensor interfaces. Further, the growing number of electric and hybrid cars is lowering the environmental impact and adding to the number of ECUs, which is driving up demand for electronic products that are becoming more and more miniaturized and performing better.
Further, advancements in technology have increased the usage of plug-in electric cars due to notable improvements, particularly by consumers. This is because new technology has enhanced electric cars' range and made public charging stations available, making these cars very convenient to use. For instance, in 2023, there were approximately 14 million new electric vehicles registered worldwide, increasing the total number of electric vehicles to 40 million. Sales of electric vehicles increased by 3.5 million in 2023 compared to 2022, a 35% annual increase. This is will subsequently bring up an enlarging market for the aforementioned auto types, henceforth offering additional points of extension to the manufacturers of power inductors.
Additionally, the market's selection of trustworthy high-frequency inductors for safety features is being investigated in light of automated driving vision. Therefore, there will be a ton of opportunity for the inductor manufacturers to grow their business as a result of the growing trend of connected or autonomous vehicles.
Geographically, the Inductor market has been segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific.
During the forecast period, Asia Pacific is anticipated to show significant growth fueled by the ongoing investment in enhancing industrial productivity in major economies namely China, India, Japan and South Korea. For instance, the increased demand for high-end smartphones, particularly those with innovative features like folding screens has made Chinese manufacturers to upgrade their game on their products’ thicknesses, screen quality as well as battery life. This will increase demand for inductors in China driven by consumers whose preferred mode of communication is through wireless networks, thereby leading to the inductor market expansion.
Likewise, the growing automotive production, rapid urbanization and improvement in living standards have boosted the demand and consumption of consumer electronics such as smartphones in China. For instance, the number of mobile subscribers in China increased to 1.29 billion in 2022 with an 87% penetration rate, resulting in high demand and leading to market growth
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Inductor Market Size in 2025 | US$6.745 billion |
| Inductor Market Size in 2030 | US$8.742 billion |
| Growth Rate | CAGR of 5.32% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Inductor Market | |
| Customization Scope | Free report customization with purchase |
The Inductor Market is analyzed into the following segments: